The enhancement of technology and innovation are at the cornerstone of our governance programme and our vision for the Cyprus economy, Cyprus President said on Thursday evening, addressing the Techisland Awards ceremony in Limassol.
Moreover he stressed that at the same time the government promotes initiatives in order to enhance the competitiveness of Cyprus as an investment destination, noting that changes to the Strategy for Attracting Investment and Talent will soon be approved in order to make it even more attractive.
Noting that technology encourages the development of cutting-edge solutions and services that can address challenges in all fields, whether it is in healthcare, education, finance or sustainable energy, technology innovation has the power to transform, Christodoulides noted that in this respect, the mandate of the newly appointed Chief Scientist has been extended to cover, further to research and innovation, issues pertaining to technology, ensuring a holistic approach in the support provided by the state.
Certainly, he added, "a necessary pre-requisite for this and any sector to thrive, is a stable, resilient and sustainable economy. In these challenging times for the global economy, the Government remains committed to a three-pillar policy approach: fiscal discipline with government budget surpluses, a stable and healthy banking sector and continuous promotion of structural reforms in order to increase our competitiveness."
"Our actions are guided by Vision2035, the long-term strategic plan for the economy aiming to promote entrepreneurship and innovation, and attract investment in high-growth sectors," Christodoulides noted.
Furthermore, the President said that he is a firm supporter of open channels of communication with the investors in Cyprus, aiming to create a truly attractive business environment that promotes transparency, efficiency, and a level playing field for all. "That is why, immediately following assuming the Presidency, we organized the first roundtable discussion with investors; some of you were there. We took note of the challenges mentioned during the discussion; to mention a few, these concern challenges in attracting and retaining talent to Cyprus, the lack of schools and the lack of affordable residential options," he noted.
As he said, the Presidency is working in close collaboration with the competent Ministries on all these issues, in order to provide tangible, effective solutions. "Next month, we will revert to the discussion table and report on the steps we have taken to streamline doing business in Cyprus. We place significant emphasis on the satisfaction of existing investors in Cyprus, because ultimately, we consider you as our best Ambassadors," he added.
He noted that "our efforts in improving the business environment are in the framework of the Strategy for Attracting Investment and Talent which was launched in 2022. The Strategy has been critical in the impressive growth of the technology sector in Cyprus in the past year, through the establishment of the Business Facilitation Unit, the provision of incentives and implementation of reforms. As with all strategies, we are constantly evaluating its implementation and we are looking for ways to further improve it. In this respect, we will be approving soon, changes to the Strategy in order to make it even more attractive," he added.
"At the same time, the government is promoting specific actions for the branding of Cyprus, so as to enhance our country's appeal to investors and professionals. A strong and positive brand image can significantly influence perceptions and decisions. When we effectively communicate the unique attributes of Cyprus, we create a compelling narrative that resonates with international audiences", Christodoulides said.
"This, in turn, attracts not only foreign investments, but also skilled professionals seeking career opportunities, which is an urgent need for the technology industry. Through the enhanced branding we aim to establish trust, showcasing Cyprus as a reliable, forward-thinking, and attractive destination for diverse opportunities and experiences. I invite you to cooperate with us and submit your views on this, as representatives of a key pillar of our economy," he noted.
Source: Cyprus News Agency